Question 16 of 16 - 75 View Policies Current Attempt in Progress On January 1, 2022, Novak Corp. had retained earnings of $499,000. During the year, Novak had the following selected transactions 1. 2. Declared cash dividends $112,000. Earned net income $341,000. Declared stock dividends $65,000 3. Determine the retained earnings balance at the end of the year. (List items that increase retained earnings first.) Novak Corp Retained Earnings Statement $ Determine the retained earnings balance at the end of the year. (List items that increase retained earnings first.) Novak Corp. Retained Earnings Statement : . $ a e Textbook and Media Submit Answer Attempts: 0 of 3 used Save for Later